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Question 25 (1 point) For the past year, a business had credit sales of $770,000...

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Accounting

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Question 25 (1 point) For the past year, a business had credit sales of $770,000 plus cash sales of $210,000. Its average balance in Accounts Receivable was $70,000. The cost of the goods sold averaged 70% of selling prices. During the past year its average inventory was $100,000. How many times per year does the accounts receivable turn over (round to 2 decimal places) A/ Question 24 (1 point) Using the following information:- Opening Stock 1st July 2021 Purchases Closing Stock 30th June 2022 Calculate the inventory turnover rate:- $16,000 $10,000 $ 7,000 1.43 times for the year 1.65 times for the year 1.19 times for the year 2.71 times for the year

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